Analyst Derivatives

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.

Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.

With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Role Summary

The Analyst, OTC Derivatives is responsible for supporting the accurate accounting and lifecycle management of OTC derivative products across client portfolios. The role provides technical expertise, supports a strong risk and control environment, and contributes to operational excellence through process improvement and automation. The individual works with internal stakeholders and clients to deliver a high-quality service and resolve complex derivative-related issues in a timely manner.

Key Responsibilities

OTC Derivatives Operations

·   Ensure OTC derivative transactions are accurately captured, processed and accounted for at each valuation point.

·   Monitor and manage derivative lifecycle events, including resets, settlements, close-outs, corporate actions, dividend events and other contractual obligations.

·   Investigate and resolve operational exceptions, discrepancies and valuation-related issues.

·   Investigate derivative-related queries and issues, escalating complex or unresolved matters to the appropriate senior team member.

·   Maintain accurate records and supporting documentation in accordance with departmental procedures and control standards.

Risk and Control

·   Complete assigned controls accurately and on time and support a robust control environment across OTC derivatives operations.

·   Ensure adherence to established procedures, client requirements and internal policies.

·   Identify and promptly escalate operational risks, errors and control issues in accordance with established procedures.

·   Support audit requests, control reviews and risk management initiatives.

·   Help safeguard the integrity and accuracy of derivative setup and maintenance within core accounting systems.

Client and Stakeholder Management

·   Maintain effective working relationships with internal business partners and, where required, support client communications.

·   Ensure queries and service requests are addressed accurately and within agreed timelines.

·   Support the onboarding of new clients, funds and OTC derivative products.

·   Work with colleagues and stakeholders to support effective service delivery.

Process Improvement and Change

·   Suggest opportunities to improve efficiency, strengthen controls and reduce operational risk.

·   Participate in automation initiatives and workflow enhancements as required.

·   Provide constructive feedback on existing processes and suggest practical improvements.

·   Support departmental projects and change initiatives as required.

Team Support and Knowledge Sharing

·   Support colleagues by sharing knowledge of OTC derivative products and processes.

·   Participate in cross-training initiatives to strengthen team resilience and operational coverage.

·   Share knowledge and good practice within the team.

·   Assist in maintaining current procedures and training materials.

Knowledge and Skills

·   Strong analytical and problem-solving capabilities.

·   Excellent attention to detail and commitment to accuracy.

·   Effective written and verbal communication skills.

·   Ability to work independently and collaboratively within a team environment.

·   Strong organisational skills, with the ability to manage multiple priorities and deadlines.

·   Commitment to continuous improvement, risk awareness and operational excellence.

·   Proficiency in Microsoft Excel and Microsoft 365 applications.

·   Willingness and ability to develop expertise in OTC derivative products and related operational processes.

Desirable Experience and Qualifications

·   Experience within Fund Accounting, Fund Administration, Derivatives Operations, Investment Operations, Middle Office or a related financial services environment.

·   Knowledge of OTC derivative products and associated lifecycle events.

·   Exposure to products such as total return swaps, interest rate swaps, credit default swaps, commodity swaps and forwards, bond forwards, equity swaps, FX forwards and options, credit linked notes and structured OTC derivative products.

·   Experience supporting complex investment funds, alternative investment structures or synthetic ETFs.

·   Knowledge of collateral management, valuation controls and investment accounting processes.

·   Familiarity with investment accounting platforms such as GIO, Omnium or equivalent systems.

·   Experience with process automation or data analysis tools such as Power BI, Power Automate, VBA, Python or similar technologies.

·   Awareness of operational risk, control and audit requirements.

·   A relevant business, finance or financial services qualification, or progress towards one.

Work Authorization

Applicants must have the right to work in Ireland at the time of application and for the duration of employment.

Please note that Northern Trust is unable to provide employment permit sponsorship for this role. This includes Critical Skills Employment Permits, General Employment Permits, Intra-Company Transfer Employment Permits, Stamp 1G permissions, and other employment permits under Irish immigration frameworks.

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.

Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [email protected], or alternatively you can discuss your individual requirements with the recruiter you are working with.